State guide · NY
Transfer tax in New York
New York charges roughly 0.40% when a home changes hands — about $1,920 on a median-priced home, customarily paid by seller (buyer pays the mansion tax).
Rate
0.40%
On a median home
$1,920
Customarily paid by
Seller
State transfer tax of 0.4% (0.65% on $3M+ residential), plus a buyer-paid 1%+ 'mansion tax' at $1M+, plus NYC's own 1-1.425% city transfer tax.
Transfer taxes are one line of the larger closing bill. For the full picture in New York — title, escrow, attorney conventions, and typical buyer costs — see our New York closing costs guide, or estimate your own bottom line with the seller net proceeds calculator.
How New York compares
| Rank | State | Rate |
|---|---|---|
| #14 | Massachusetts | 0.46% |
| #15 | Maine | 0.44% |
| #16 | New York | 0.40% |
| #17 | South Carolina | 0.37% |
| #18 | Tennessee | 0.37% |
Common questions
Does New York have a real estate transfer tax?
Yes. State transfer tax of 0.4% (0.65% on $3M+ residential), plus a buyer-paid 1%+ 'mansion tax' at $1M+, plus NYC's own 1-1.425% city transfer tax. On a median-priced New York home (about $480,000), that's roughly $1,920.
Who pays the transfer tax in New York?
Seller (buyer pays the mansion tax). Like every closing cost, this is custom rather than law — the purchase contract can assign it to either side, and in competitive negotiations it sometimes moves.
Selling in New York? See what you'd keep
Sale price minus commissions, payoff, and taxes like this one — the number that actually lands in your account.
Open the net proceeds calculatorRates are representative combined state and typical local figures compiled from public sources and rounded for readability; graduated schedules, exemptions, and city add-ons can change your number. Confirm with your closing agent or county recorder. Median home values are approximate.